Fox Factory Holding Corp. (NASDAQ:FOXF) Shares Purchased by Geneva Capital Management LLC

Key Points

• Geneva Capital Management LLC increased its stake in Fox Factory Holding Corp. by 4.0%, now owning 1.29% of the company, valued at $12.57 million.
• Fox Factory reported earnings of $0.23 per share for the recent quarter, exceeding analysts' expectations of $0.22, with revenues of $355.03 million.
• Several analysts have recently upgraded their price targets for Fox Factory, with Truist Financial raising it from $28.00 to $34.00 and maintaining a "buy" rating.

Geneva Capital Management LLC raised its position in shares of Fox Factory Holding Corp. (NASDAQ:FOXF - Free Report) by 4.0% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 538,644 shares of the company's stock after purchasing an additional 20,692 shares during the period. Geneva Capital Management LLC owned 1.29% of Fox Factory worth $12,572,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. CWM LLC raised its stake in Fox Factory by 76.2% in the first quarter. CWM LLC now owns 1,341 shares of the company's stock valued at $31,000 after buying an additional 580 shares during the period. Versant Capital Management Inc increased its holdings in shares of Fox Factory by 142.8% in the first quarter. Versant Capital Management Inc now owns 1,372 shares of the company's stock worth $32,000 after purchasing an additional 807 shares during the period. GAMMA Investing LLC grew its stake in shares of Fox Factory by 254.1% during the first quarter. GAMMA Investing LLC now owns 1,696 shares of the company's stock valued at $40,000 after buying an additional 1,217 shares during the last quarter. Quarry LP purchased a new stake in Fox Factory in the fourth quarter worth about $45,000. Finally, First Horizon Advisors Inc. lifted its position in Fox Factory by 113.8% in the 1st quarter. First Horizon Advisors Inc. now owns 1,950 shares of the company's stock valued at $46,000 after acquiring an additional 1,038 shares in the last quarter.

Fox Factory Stock Up 3.5%

FOXF traded up $1.03 during trading on Thursday, reaching $30.25. The company had a trading volume of 451,331 shares, compared to its average volume of 608,689. The business's fifty day moving average price is $27.25 and its 200 day moving average price is $25.35. The company has a debt-to-equity ratio of 0.73, a current ratio of 3.18 and a quick ratio of 1.36. The company has a market cap of $1.26 billion, a P/E ratio of -5.04 and a beta of 1.50. Fox Factory Holding Corp. has a 12 month low of $17.95 and a 12 month high of $44.27.

Fox Factory (NASDAQ:FOXF - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The company reported $0.23 EPS for the quarter, beating the consensus estimate of $0.22 by $0.01. The business had revenue of $355.03 million during the quarter, compared to analyst estimates of $330.71 million. Fox Factory had a positive return on equity of 4.70% and a negative net margin of 17.64%. The company's revenue for the quarter was up 6.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.29 earnings per share. Equities analysts anticipate that Fox Factory Holding Corp. will post 1.31 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages have issued reports on FOXF. Truist Financial raised their price objective on shares of Fox Factory from $28.00 to $34.00 and gave the stock a "buy" rating in a research note on Wednesday, May 14th. Stifel Nicolaus lowered their target price on shares of Fox Factory from $40.00 to $34.00 and set a "buy" rating for the company in a research note on Thursday, April 10th. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, Fox Factory presently has an average rating of "Hold" and an average price target of $35.00.

About Fox Factory

Fox Factory Holding Corp. designs, engineers, manufactures, and markets performance-defining products and system worldwide. The company offers powered vehicle products for side-by-side vehicles, on-road vehicles with and without off-road capabilities, off-road vehicles and trucks, all-terrain vehicles, snowmobiles, and specialty vehicles and applications, such as military, motorcycles, and commercial trucks; lift kits and components with shock products and aftermarket accessory packages for trucks; and mid-end and high-end front fork and rear suspension products.